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D&S Module01-Money Management-Test A

Multiple Choice
Identify the choice that best completes the statement or answers the question.
 

 1. 

SMART stands for..
A.
Short-term, Money, Assets, Reverse, Transactions
B.
Spending, Management And Retaining, Trusts
C.
Specific, Measurable, Attainable, Relevant, Time-bound
 

 2. 

DECIDE stands for..
A.
Dollars, Extra, Cents, Inventory, Deposit, Exchange
B.
Define, Establish, Choose, Identify, Decide, Evaluate
C.
Determine, Examine, Censor, Initiate, Drone, Experiment
 

 3. 

PYF stands for..
A.
Pay Yourself First
B.
Payable Yearly Finances
C.
Periodic Yielding Financials
 

 4. 

Expenses that are the same every time, like rent, is called...
A.
periodic expenses
B.
variable expenses
C.
fixed expenses
 

 5. 

Expenses that vary from month to month, like food, is called...
A.
periodic expenses
B.
variable expenses
C.
fixed expenses
 

 6. 

Expenses that occur every once in a while, like school fees, is called...
A.
periodic expenses
B.
variable expenses
C.
fixed expenses
 

 7. 

The things in life that are essential to your health and security, like food and shelter is called...
A.
wants
B.
needs
C.
goals
 

 8. 

The things that make life more interesting, like movies and traveling, but you can live without them is called...
A.
wants
B.
needs
C.
goals
 

 9. 

Another term for “money” includes all of following EXCEPT...
A.
currency
B.
note
C.
finance
 

 10. 

If there were no dollars and cents, which of the following items would best fit the criteria for money (generally accepted, durable, portable, divisible, scarce)?
A.
cows
B.
sea shells
C.
bananas
 



 
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